As has been rumored for months, Apple's iPhone will soon be available on China Mobile, the largest wireless carrier in the world with more than 760 million subscribers.

It's a big move. Apple has very low smartphone market share in China, a country where customers are still making the transition from regular cell phones to more advanced smartphones. The deal with China Mobile will allow Apple to tap into hundreds of millions of potential new customers.

China Mobile is also launching a new high-speed 4G network that will be compatible with Apple's iPhones.

The iPhone 5S and iPhone 5C will be available on China Mobile on January 17, 2014.

Here's the full press release from Apple:

BEIJING and CUPERTINO, California—December 22, 2013—Apple® and China Mobile today announced they have entered into a multi-year agreement to bring iPhone® to the world's largest mobile network. As part of the agreement, iPhone 5s and iPhone 5c will be available from China Mobile's expansive network of retail stores as well as Apple retail stores across mainland China beginning on Friday, January 17, 2014. iPhone 5s, the most forward-thinking smartphone in the world and iPhone 5c, the most colorful iPhone yet, will be available for pre-registration from China Mobile's official website (www.10086.cn) and customer service hotline "10086" beginning on Wednesday, December 25, 2013.

“Apple’s iPhone is very much loved by millions of customers around the world. We know there are many China Mobile customers and potential new customers who are anxiously awaiting the incredible combination of iPhone on China Mobile’s leading network. We are delighted that iPhone on China Mobile will support our 4G/TD-LTE and 3G/TD-SCDMA networks, providing customers with high-speed mobile service,” said Xi Guohua, China Mobile Chairman.

“Apple has enormous respect for China Mobile and we are excited to begin working together. China is an extremely important market for Apple and our partnership with China Mobile presents us the opportunity to bring iPhone to the customers of the world's largest network,” said Tim Cook, Apple CEO. “iPhone customers in China are an enthusiastic and rapidly growing group, and we can’t think of a better way to welcome in the Chinese New Year than getting an iPhone into the hands of every China Mobile customer who wants one.”

China Mobile now has over 1.2 million 2G/GSM, 3G/TD-SCDMA, 4G/TD-LTE base stations and over 4.2 million Wi-Fi access points, providing broad coverage to quality networks for iPhone 5s and iPhone 5c customers. China Mobile is rolling out the world’s largest 4G network. By the end of 2013, China Mobile’s 4G services will be available in 16 cities including Beijing, Shanghai, Guangzhou and Shenzhen. By the end of 2014, China Mobile plans to complete the rollout of more than 500,000 4G base stations, which will cover more than 340 cities with 4G service. The collaboration between Apple and China Mobile will give a big boost to the development of China's homegrown 4G/TD-LTE technology. iPhone on China Mobile supports major cellular network standards, making a global phone a reality for China Mobile customers.

iPhone 5s redefines the best smartphone experience in the world with amazing new features all packed into a remarkable thin and light design, including the Apple-designed A7 64-bit chip, all-new 8 megapixel iSight® camera with True Tone flash and introducing Touch ID™, an innovative way to simply and securely unlock your phone with just the touch of a finger. iPhone 5c features an all new-design in five gorgeous colors and is packed with features people know and love like the beautiful 4-inch Retina® display, blazing fast performance of the A6 chip, and the 8 megapixel iSight camera—all while delivering great battery life.* iPhone 5s and iPhone 5c both offer more 4G LTE bands than any other smartphone in the world and include all-new FaceTime® HD cameras.

iPhone 5s and iPhone 5c come with iOS 7, the most significant iOS update since the original iPhone, featuring a stunning new user interface, completely redesigned with an elegant color palette, distinct, functional layers and subtle motion that make it feel more alive. iOS 7 has hundreds of great new features, including Control Center, Notification Center, improved Multitasking, AirDrop®, enhanced Photos, Safari® and Siri®.

Details of pricing and availability of iPhone 5s and iPhone 5c for China Mobile will be available at a later date.